KPMG Northern Tech Investment Q1 2017

KPMG Northern Tech Investment Q1 2017, updated 4/25/17, 3:42 PM

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Q1 2017 investment demonstrated a growing confidence in Northern tech businesses from both local, national and international investor groups. With more than £165m invested, Q1 was among the Northern tech sector’s most successful single quarters in recent years. The most notable investment was the £83m raised by Atom Bank. Based in Durham, Atom is the UK's first mobile only bank. It is leading the way in disrupting a sector long dominated by large, well established players who’s size and traditional structures can sometimes make it difficult to keep pace with technological change. Beyond Atom Bank’s fundraising, the remaining £83m invested in Northern tech businesses is more than the last two quarters of 2016 combined. M&A activity in Q1 2017 was also markedly higher, with 32 transactions, more than double both Q3 and Q4 2016.

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